Global asset manager American Century Investments, which channels almost half of its profits into medical research, has helped fund a potential breakthrough in the treatment of inoperable cancerous tumours.
American Century’s ownership structure means more than 40 per cent of its annual profits are paid to an endowment that supports two biomedical research organisations established by the company’s founder, the late Jim Stowers, and his wife, Virginia.
Since 2000, more than USD1bn in dividends from the asset management firm have gone to the Stowers Institute for Medical Research and BioMed Valley Discoveries (BVD), with a further USD1bn contributed from the Stowers’ family’s personal wealth. The company has operations in the US, UK, Europe and Asia.
Michael Green, London-based chief executive of American Century’s international business, says: “For all of us at American Century Investments, it’s incredibly rewarding to know that we are playing a role in funding research that may lead to treatments for cancer and other diseases. Our investors can also be proud of their involvement; by investing with us, they are directly helping fund important and potentially life-saving medical research.”
In the UK, American Century offers fund and investment solutions to institutional investors and – via intermediaries – to retail investors.
Green adds: “Thanks to our unique business structure, more than 40 per cent of our profits are distributed to the endowment that supports BioMed Valley Discoveries and the Stowers Institute for Medical Research. Since 2000, total dividend payments to the endowment exceed USD1 billion.
“This milestone validates our founder Jim Stowers’ vision of using profits from American Century to support life-saving research. It’s the ultimate example of how financial success can be a force for good.”